Years ago (25+) I owned a fund that did split. Rare event for mutual funds to split and there's really no "need" for them to do so. For the most part, stock splits are meaningless, since all they do is INCREASE the number of shares outstanding and DECREASE (proportionately) the share price. Most companies trade on fundamentals (in the long run) and since splits do not affect a company's fundamentals...
What does a splt tell us?
A. The company's share price HAS increased
B. Mangement is optimistic of future prospects (if that was not the case, why would they cut the share price with the possibility of an even lower share price?)
People are emotional; investors should not be emotional (easier said than done). People who don't grasp stock splits get excited about them. Re a mutual fund, investors don't look at the share price the same way, since most approach investing in a mutual fund via how much money they want to invest and they receive X number of shares. If only investors would appoach investing in individual equities the same way, they wouldn't be scared of "high priced" stocks and might not miss better opportunities compared to "cheaper" stocks.